9 minute read
How to change MT5 to MT4 on Exness
from Exness
by Exness_Blog
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most popular trading platforms in the world, widely used by traders for their robust features, user-friendly interfaces, and flexibility. Exness, a leading online broker, supports both platforms, allowing traders to access a variety of financial instruments, including forex, commodities, stocks, and cryptocurrencies. While MT5 is an advanced version with additional features, many traders prefer MT4 due to its simplicity, familiarity, and extensive community support for Expert Advisors (EAs) and custom indicators.
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If you’re an Exness user currently using MT5 but want to switch to MT4, you might be wondering how to make the transition seamlessly. This comprehensive guide will walk you through the process of changing from MT5 to MT4 on Exness, including why you might want to switch, the steps involved, and tips to optimize your trading experience. By the end, you’ll have a clear understanding of how to make the switch and start trading on MT4 with Exness.
Why Switch from MT5 to MT4 on Exness?
Before diving into the steps, it’s important to understand why some traders prefer MT4 over MT5. While MT5 offers advanced features like additional timeframes, more order types, and a built-in economic calendar, MT4 remains a favorite for several reasons:
· Familiarity and Simplicity: MT4 has been around since 2005 and is known for its straightforward interface, making it ideal for beginners and seasoned traders alike.
· Extensive Community Support: MT4 has a larger user base, resulting in a vast library of custom indicators, scripts, and EAs developed in MetaQuotes Language 4 (MQL4).
· Compatibility with Existing Tools: Many traders have developed or purchased EAs and scripts specifically for MT4, which may not be fully compatible with MT5 due to differences in programming (MQL5).
· Lower System Requirements: MT4 is less resource-intensive, making it a better choice for traders using older devices or those who prefer a lightweight platform.
· Preference for Simpler Features: Some traders find MT5’s additional features, such as the hedging mode or depth of market, unnecessary for their trading strategies.
If any of these reasons resonate with you, switching to MT4 on Exness could enhance your trading experience. However, keep in mind that Exness does not allow you to change an existing MT5 trading account to MT4. Instead, you’ll need to create a new MT4 account and set up the MT4 platform. Below, we’ll guide you through the process step by step.
Key Considerations Before Switching
Before you proceed with switching from MT5 to MT4 on Exness, here are a few important points to consider:
· Account Compatibility: MT4 and MT5 accounts are not interchangeable. You cannot use an MT5 trading account on the MT4 platform or vice versa. You’ll need to open a new MT4 account in your Exness Personal Area.
· Funds Management: If you have funds in your MT5 account, you’ll need to transfer them to your new MT4 account or withdraw them and redeposit them, as Exness processes over 98% of withdrawals instantly.
· Trading History: Your trading history, open positions, and pending orders from MT5 will not transfer to MT4. Ensure you close or manage any open trades before switching.
· Platform Installation: You’ll need to download and install the MT4 platform if you haven’t already, as it’s separate from MT5.
Now, let’s move on to the step-by-step process of switching to MT4 on Exness.
Step-by-Step Guide to Switching from MT5 to MT4 on Exness
Step 1: Log in to Your Exness Personal Area
To begin, access your Exness Personal Area (PA), which is the hub for managing your trading accounts, deposits, withdrawals, and platform settings.
· Visit the Exness website and click “Sign In” at the top right corner.
· Enter your registered email address and password to log in to your Personal Area.
· If you don’t have an Exness account, you’ll need to register for one by clicking “Register” and following the account creation process.
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Step 2: Open a New MT4 Trading Account
Since you cannot convert an MT5 account to MT4, you’ll need to create a new MT4 account.
· In your Personal Area, locate the “My Accounts” section.
· Click on “Open New Account.”
· Choose the account type that suits your trading needs (e.g., Standard, Pro, Raw Spread, or Zero). Ensure you select “MetaTrader 4” as the platform for the new account.
· Configure your account settings, such as leverage, currency, and account nickname.
· Once created, note down the account number, trading password, and server details provided in your Personal Area or sent to your registered email. These are essential for logging in to MT4.
Step 3: Download and Install MetaTrader 4
If you don’t already have MT4 installed on your device, you’ll need to download it from the Exness website or the official MetaTrader 4 website.
· Go to the Exness website (www.exness.com) (www.exness.com) and navigate to the “Platforms” section.
· Select “MetaTrader 4” and choose the version compatible with your device (Windows, Mac, Android, or iOS).
· Download the installation file and run it. Follow the prompts to complete the installation.
· For mobile trading, download the MT4 app from the Google Play Store (for Android) or the App Store (for iOS).
Step 4: Log in to MT4 with Your Exness Account
Once MT4 is installed, you’ll need to connect it to your new Exness MT4 account.
Open the MT4 platform on your desktop or mobile device.
For desktop:
· Click “File” at the top left and select “Login to Trade Account.”
· Enter your MT4 account number, trading password, and the server name (e.g., “Exness Technologies Ltd” or “Exness (KE) Limited” for Kenyan clients).
· Click “Login.”
For mobile:
· Open the MT4 app and tap “Manage Accounts” from the main menu.
· Tap the “+” icon and select “Login to an Existing Account.”
· Search for “Exness” and select the appropriate server.
· Enter your account number and password, then tap “Sign In.”
Step 5: Transfer Funds to Your MT4 Account
If you have funds in your MT5 account, you’ll need to transfer them to your new MT4 account or withdraw and redeposit them.
· In your Exness Personal Area, go to the “Transfer” section.
· Select “Internal Transfer” to move funds from your MT5 account to your new MT4 account.
· Enter the amount you wish to transfer and confirm the transaction. Exness processes most transfers instantly.
· Alternatively, withdraw funds from your MT5 account (processed in under 1 minute in 98% of cases) and deposit them into your MT4 account using your preferred payment method.
Step 6: Set Up Your MT4 Platform
Once logged in, customize your MT4 platform to suit your trading style:
· Add Instruments: Right-click on the Market Watch window, select “Symbols,” and choose the financial instruments you want to trade (e.g., forex pairs, commodities, or indices).
· Customize Charts: Use MT4’s 30 built-in technical indicators and 23 analytical objects to analyze the markets.
· Install EAs or Scripts: If you have existing EAs or scripts, install them via the “Navigator” window or by dragging them into the MT4 folder.
· Enable One-Click Trading: Go to “Tools” > “Options” > “Trade” and enable one-click trading for faster order execution.
Step 7: Start Trading on MT4
With your MT4 account set up and funded, you’re ready to start trading. Exness offers over 200 instruments on MT4, including forex pairs, metals, cryptocurrencies, stocks, and indices. Take advantage of features like instant execution, market execution, and trailing stops to optimize your trading strategy.
Tips for a Smooth Transition from MT5 to MT4
· Test with a Demo Account: Before trading with real funds, open an MT4 demo account on Exness to familiarize yourself with the platform. This allows you to test your strategies risk-free.
· Check EA Compatibility: If you use EAs, ensure they are coded in MQL4, as MQL5-based EAs from MT5 won’t work on MT4.
· Explore MT4 Features: MT4 supports algorithmic trading, trading signals, and mobile trading, so take time to explore its tools to enhance your experience.
· Monitor Server Details: Always double-check the server name when logging in, as using the wrong server will prevent access to your account.
· Leverage Exness Support: If you encounter issues, Exness offers 24/7 customer support via live chat, email, or phone.
Key Differences Between MT4 and MT5 on Exness
To help you understand the implications of switching, here’s a quick comparison of MT4 and MT5 on Exness:
MT4 is ideal for traders who value simplicity and a vast ecosystem of tools, while MT5 suits those who need advanced features and more timeframes.
Common Challenges and How to Overcome Them
· Incorrect Server Selection: If you can’t log in, double-check the server name in your Exness Personal Area or welcome email. For example, Kenyan clients should use “Exness (KE) Limited.”
· EA or Script Incompatibility: Convert MQL5-based EAs to MQL4 or source MT4-compatible versions from the MetaTrader community.
· Language Issues: If MT4 displays in a non-English language, go to “View” > “Languages” and select English.
· Fund Transfer Delays: While Exness processes most transfers instantly, ensure your payment provider supports fast transactions to avoid delays.
Why Choose Exness for MT4 Trading?
Exness is a trusted broker with a strong reputation for transparency, fast execution, and competitive trading conditions. Here’s why it’s a great choice for MT4 trading:
· Wide Range of Instruments: Trade over 200 instruments, including major and exotic forex pairs, metals, cryptocurrencies, and indices.
· Low Spreads and Fast Execution: Exness offers tight spreads and executes orders in milliseconds, enhancing profitability.
· Instant Withdrawals: Over 98% of withdrawals are processed in under 1 minute, giving you quick access to funds.
· Robust Security: All communications between the server and MT4 are encrypted with a 128-bit key, ensuring data safety.
· Multiple Account Types: Choose from Standard, Pro, Raw Spread, or Zero accounts to match your trading style.
Conclusion
Switching from MetaTrader 5 to MetaTrader 4 on Exness is a straightforward process that involves creating a new MT4 account, downloading the MT4 platform, and transferring funds if needed. While MT5 offers advanced features, MT4’s simplicity, extensive community support, and compatibility with existing tools make it a preferred choice for many traders. By following the steps outlined in this guide, you can seamlessly transition to MT4 and leverage Exness’s competitive trading conditions to enhance your trading experience.
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